Selfreliance dedicates new home office in Chicago, holds annual meeting (05/12/02)

Selfreliance dedicates new home office in Chicago, holds annual meeting

by Theodora Turula

CHICAGO - The Selfreliance Ukrainian American Federal Credit Union has moved its main office into a modern new building. The credit union chose to remain in the Ukrainian Village, the neighborhood that is home to Ukrainian churches, schools, a number of Ukrainian-owned businesses, and where many of its members still reside.

Selfreliance Ukrainian American FCU continues to work closely with all the communities where its branches are located, in Illinois, New Jersey and Indiana. The new Selfreliance building, just across the street from the credit union's former office location, is large enough to meet its current needs and anticipated growth, and will serve as a community center for many years to come.

As the hour approached for the grand opening and blessing of Selfreliance's new offices on April 14, it seemed as if every Ukrainian in Chicago had gathered for this momentous occasion, along with a significant number of politicians, credit union leaders and guests. It was an unseasonably warm and sunny Sunday afternoon, and services had just ended at the three neighborhood churches: St. Volodymyr Ukrainian Orthodox Cathedral, St. Nicholas Ukrainian Catholic Cathedral, and Ss. Volodymyr and Olha Ukrainian Catholic Church.

President Bohdan Watral and Board Chairman Michael R. Kos ceremoniously cut the ribbon, and the blessing of the premises was conducted by Archbishop Vsevolod, with Bishops Michael Wiwchar and Innocent Lotocky. The clergymen walked throughout the first floor, around the second-floor offices and up the stairs to the large third-floor meeting space.

Credit union members followed, filling the hall to capacity, partaking of the buffet, admiring the premises, listening to the congratulatory speeches and celebrating the opening of their credit union's new home.

Mr. Watral welcomed members and guests, saying: "It is my honor and pleasure to welcome you to today's historic celebration. I ask that we observe a moment of silence to recognize the innocent victims of September 11 and all our members who have passed away in the past 50 years, and most assuredly to reaffirm our commitment to the freedom and democracy afforded all of us here in our homeland, the United States of America."

Omelan Pleszkewycz, one of the founding members of Selfreliance, who serves as honorary president, spoke of the Chicago-based credit union's evolution and its continuing mutually supportive relationship with the Ukrainian community.

Guests on hand to extend well wishes to Selfreliance on the opening of its new building included the Borys Bazylevsky, consul general of Ukraine in Chicago; Pat Michalski of Illinois Gov. George Ryan's office, who read a proclamation from the governor; longtime credit union ally, State Treasurer Judy Barr Topinka; Illinois State Sen. Walter Dudycz, a supporter and a member of Selfreliance; State Rep. Carl Hawkinson, a credit union advocate; State Sen. Joseph Lyons; Aurelia Pucinski, former clerk of the Circuit Court of Cook County; Maine Township Supervisor Bohdan Dudycz; Petro Kozinets, president of the Ukrainian National Association of Savings and Credit Unions; as well as representatives of the Illinois Credit Union League and CUNA Mutual Insurance Society.

One week later, on April 21, the members of Selfreliance Ukrainian American FCU held their 51st annual meeting. For the first time, this event was held in the credit union's own building. The meeting was broadcast simultaneously in New Jersey through a videoconference link, so the credit union's members in New Jersey could hear the reports and participate in discussions.

The meeting started with a prayer by Rt. Rev. Ivan A. Krotec of Ss. Volodymyr and Olha Church. Various greetings and proclamations followed, including a speech by Vicki L. Ponzo, senior vice-president of the Illinois Credit Union League. The vice-president/secretary Victor Wojtychiw, read the minutes of the previous meeting, after which the members listened to reports from the President and chairman of the board, as well as from the committees.

Despite the fact that the United States was in the grips of a recession in 2001, Selfreliance ended its 51st year with some impressive financial statistics. Assets totaled over $390 million and credit union capital grew to nearly $50 million. The credit union's loan portfolio was nearly $200 million, and the credit union's membership will soon reach 20,000.

In 2001 alone, the credit union disbursed $588,000 for community promotional and educational expenses, in support of Ukrainian organizations: churches, museums, youth groups and various other associations. The year 2001 has been an auspicious beginning for the credit union's second 50 years.

As Michael R. Kos, chairman of the board of Selfreliance Ukrainian American FCU stated at the conclusion of his annual report, "with the utmost belief in God, and in our people, I am firmly convinced that the credit unions in Ukraine, as well as our own credit union, will continue in one direction only. Forward!"

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